The Democrats attacking the regulator here didn’t do so out of some deep conviction against government regulation. They wanted to keep the gravy train rolling on questionable mortgages in order to endear themselves to the working class, and didn’t mind smearing the OFHEO regulator as a racist in order to succeed. The Republicans who wanted more oversight didn’t demand it as socialists looking for a government takeover of the financial sector, either, but because they saw the impending disaster looming for Fannie Mae.

Democrats distorted the market through the CRA and through Fannie and Freddie’s massive securitizing of bad debt, and then blocked regulators from doing their jobs. That’s the real story of this collapse.

Hmm. Radicalism disguised by a claim to be postideological. Sound familiar?

The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORN’s Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards. Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts.

And, as the leader of another charity, the Chicago Annenberg Challenge, Obama channeled more funding Talbott’s way – ostensibly for education projects but surely supportive of ACORN’s overall efforts.

In return, Talbott proudly announced her support of Obama’s first campaign for state Senate, saying, “We accept and respect him as a kindred spirit, a fellow organizer.”

IN short, to understand the roots of the subprime-mort gage crisis, look to ACORN’s Madeline Talbott. And to see how Talbott was able to work her mischief, look to Barack Obama.

Then you’ll truly know what community organizers do.

The McCain campaign HAS to start hammering the Democrats, and particularly Obama, hard, on their roles in this financial crisis.

UPDATE (October 2):

Awwwww…isn’t this cute?

Here, written down for posterity, is what some key Democrats said about Fan and Fred.

None of them had any clue…NO IDEA! that a crisis was looming. They just kept merrily going on their way, blocking every attempt by Republicans to make things right.

How can you blame such compassionate people whose only crime was that they wanted every person in America to buy have a house.

Like this:

How do these utterly corrupt far left phonies and frauds like Obama, Pelosi, Frank, Reid, Kennedy, Kerry, Dodd, and William Ayers make it to positions of power? How can a majority of their constituents support people, the rest of us know are lying, subversive marxists?

How did it happen?

A former KGB agent, interviewed in 1984, explains how the Soviet Union worked (successfully) to subvert North America:

“Education is a weapon whose effects depend on who holds it in his hands and at whom it is aimed.”
Joseph Stalin

These are lessons, people likeObama, and his longtime pal, Bill Ayers took to heart, when they were given a chance to help Chicago schools with 50 million dollars + matching funds, and squandered it all on radical left-wing causes.

Ayers, an unrepentant commie terrorist, is still teaching at the University of Illinois.

WHY?

This nation HAS become demoralized.

A constant drumbeat of political, philosophical, theological, and social propaganda pervades every activity:

The cultural Marxists convince us that the truth is that there is no truth. And even though this unresolvable paradox lies at the very center of all this, the constant drumbeat keeps the masses in line, anesthetized enough to not make an issue of it. Fed a constant diet of sex, drugs, poisonous pop culture, materialistic trinkets, and unkeepable promises of security provided by huge leftist government, ever more globalist in nature, the masses are diverted from realizing, as they are told there is no truth, that this claim itself is subject to the same test. It is logically impossible for the leftist drumbeat to be true by its own axioms.

The principles upon which Western culture rests and upon which America was built are under attack by these slow acting but deadly forces. The drumbeat is grinding down the will of the West to maintain itself. The ideas of individual sovereignty and responsibility, natural rights, and objective truth have been derided by the left to the point that many of our young people reject them, if, indeed, they are even aware of them as the basis for our culture. All that ensures that a culture will pass its ideas down from one generation to the next is its cultural memory. The drumbeat is slowly but surely replacing our cultural memory.

Sorry to be such a downer, today.

The libs have really put me in a funk.

UPDATE:

Oh, man….NYC is a cesspool of intolerant commie-libs…we all knew that….but MY GOD!:

Like this:

I don’t mean that in the way Democrats mean it when they accuse Republicans of questioning their patriotism. She didn’t bring up uncomfortable truths that might lead people to see them in an unpatriotic light. She didn’t insinuate that they were unpatriotic.

She actually came right out and said that they were “very unpatriotic”, a charge that Dems are soooo very sensitive about, themselves, they often verrrry indignantly accuse Republicans of smearing them with it. They are OBSESSED with patriotism, because they know how their actions look to average patriotic Americans.

So now the unhinged crone is accusing Republicans of being unpatriotic…..because they neglected to show up for negotiations earlier in the week.

Rep. Paul Kanjorski (D-Pa.) on Friday suggested Democratic leaders did not solicit enough input from House Republicans on the financial rescue package…

Asked whether House GOP lawmakers are right to believe they were slighted, Kanjorski replied, “I don’t know that we included them in enough, and that’s always a dangerous thing in politics. Remember, you’re dealing with egomaniacs. We’re all egomaniacs down here.”

Kanjorski, who faces a difficult reelection race, is a key player on the bailout package. He is chairman of the House Financial Services subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises.

Kanjorski said, “Now, what we have to do is open that door for the House Republicans, bring them on in and say, ‘Guys, you know, we can’t cast your idea aside.’ Let’s listen to it … I think we have to allow them to talk their idea out. We have to be willing to listen.”

The craven wench is lying through her teeth; accusing Republicans of being unpatriotic for not showing up to negotiations they were purposely left out of.

Democrats claim that Republicans either have questioned or will question their patriotism in this campaign, but actually the only accusations of lacking patriotism have come from Democrats.

Sen. Bob Graham (Fla.), when he was a candidate, said that Bush’s Iraq policy was “anti-patriotic at the core.” Last September, Kerry said that Bush “lives out a creed of greed for he and his friends” and that it was “unpatriotic” for Bush’s “friends” (i.e., corporate executives) to move jobs offshore. It was a regular staple of retired Gen. Wesley Clark’s campaign to say that Bush’s policies were “not patriotic.”

Howard Dean, when he was a candidate, charged that Ashcroft “is no patriot. He’s a direct descendant of Joseph McCarthy.”

“St. Louis County Circuit Attorney Bob McCulloch, St. Louis City Circuit Attorney Jennifer Joyce, Jefferson County Sheriff Glenn Boyer, and Obama and the leader of his Missouri campaign Senator Claire McCaskill have attached the stench of police state tactics to the Obama-Biden campaign.

“What Senator Obama and his helpers are doing is scandalous beyond words, the party that claims to be the party of Thomas Jefferson is abusing the justice system and offices of public trust to silence political criticism with threats of prosecution and criminal punishment.

“This abuse of the law for intimidation insults the most sacred principles and ideals of Jefferson. I can think of nothing more offensive to Jefferson’s thinking than using the power of the state to deprive Americans of their civil rights. The only conceivable purpose of Messrs. McCulloch, Obama and the others is to frighten people away from expressing themselves, to chill free and open debate, to suppress support and donations to conservative organizations targeted by this anti-civil rights, to strangle criticism of Mr. Obama, to suppress ads about his support of higher taxes, and to choke out criticism on television, radio, the Internet, blogs, e-mail and daily conversation about the election.

“Barack Obama needs to grow up. Leftist blogs and others in the press constantly say false things about me and my family. Usually, we ignore false and scurrilous accusations because the purveyors have no credibility. When necessary, we refute them. Enlisting Missouri law enforcement to intimidate people and kill free debate is reminiscent of the Sedition Acts – not a free society.”

Mickey Kaus:Before I get spun, I’d say: small, Pyrrhic victory for McCain. McCain wanted to make Obama seem naive and inexperienced. He did about 40% of that. Obama wanted to make McCain seem dangerously ambitious, bellicose and hotheaded. He did 0% of that.

Henry Kissinger: “Senator McCain is right. I would not recommend the next President of the United States engage in talks with Iran at the Presidential level. My views on this issue are entirely compatible with the views of my friend Senator John McCain.”

a poison pill that would push 20% of all profits from the bailout into the Housing Trust Fund — a boondoggle that Democrats in Congress has used to fund political-action groups like ACORN and the National Council of La Raza: